According to the U.S. Bureau of Labor Statistics, prices for rent of primary residence are 1,667.70% higher in 2024 versus 1938 (a $16,677 difference in value).
Between 1938 and 2024: Rent experienced an average inflation rate of 3.40% per year. This rate of change indicates significant inflation. In other words, rent costing $1,000 in the year 1938 would cost $17,677 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.67% during this same period, inflation for rent was lower.
In the year 1938: Pricing changed by 3.05%, which is below the average yearly change for rent during the 1938-2024 time period. Compared to inflation for all items in 1938 (-2.03%), inflation for rent was much higher.
Below are calculations of equivalent buying power for Rent, over time, for $1,000 beginning in 1938. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1938 | $1,000.00 | 3.05% |
| 1939 | $1,000.84 | 0.08% |
| 1940 | $1,003.26 | 0.24% |
| 1941 | $1,020.01 | 1.67% |
| 1942 | $1,042.75 | 2.23% |
| 1943 | $1,042.75 | 0.00% ** |
| 1944 | $1,044.99 | 0.22% |
| 1945 | $1,048.14 | 0.30% |
| 1946 | $1,054.90 | 0.64% |
| 1947 | $1,089.20 | 3.25% |
| 1948 | $1,161.32 | 6.62% |
| 1949 | $1,211.67 | 4.34% |
| 1950 | $1,256.50 | 3.70% |
| 1951 | $1,305.87 | 3.93% |
| 1952 | $1,360.45 | 4.18% |
| 1953 | $1,431.91 | 5.25% |
| 1954 | $1,482.91 | 3.56% |
| 1955 | $1,503.70 | 1.40% |
| 1956 | $1,531.31 | 1.84% |
| 1957 | $1,560.88 | 1.93% |
| 1958 | $1,589.46 | 1.83% |
| 1959 | $1,612.20 | 1.43% |
| 1960 | $1,635.91 | 1.47% |
| 1961 | $1,656.70 | 1.27% |
| 1962 | $1,677.17 | 1.24% |
| 1963 | $1,694.06 | 1.01% |
| 1964 | $1,711.60 | 1.04% |
| 1965 | $1,728.50 | 0.99% |
| 1966 | $1,752.21 | 1.37% |
| 1967 | $1,783.72 | 1.80% |
| 1968 | $1,826.60 | 2.40% |
| 1969 | $1,885.72 | 3.24% |
| 1970 | $1,963.68 | 4.13% |
| 1971 | $2,054.64 | 4.63% |
| 1972 | $2,125.45 | 3.45% |
| 1973 | $2,218.04 | 4.36% |
| 1974 | $2,329.13 | 5.01% |
| 1975 | $2,449.32 | 5.16% |
| 1976 | $2,581.86 | 5.41% |
| 1977 | $2,737.14 | 6.01% |
| 1978 | $2,925.55 | 6.88% |
| 1979 | $3,139.29 | 7.31% |
| 1980 | $3,417.03 | 8.85% |
| 1981 | $3,713.62 | 8.68% |
| 1982 | $3,995.91 | 7.60% |
| 1983 | $4,226.87 | 5.78% |
| 1984 | $4,446.47 | 5.20% |
| 1985 | $4,719.66 | 6.14% |
| 1986 | $4,994.80 | 5.83% |
| 1987 | $5,200.43 | 4.12% |
| 1988 | $5,398.58 | 3.81% |
| 1989 | $5,608.43 | 3.89% |
| 1990 | $5,844.92 | 4.22% |
| 1991 | $6,052.17 | 3.55% |
| 1992 | $6,203.87 | 2.51% |
| 1993 | $6,348.75 | 2.34% |
| 1994 | $6,503.70 | 2.44% |
| 1995 | $6,662.88 | 2.45% |
| 1996 | $6,839.27 | 2.65% |
| 1997 | $7,038.40 | 2.91% |
| 1998 | $7,266.76 | 3.24% |
| 1999 | $7,495.13 | 3.14% |
| 2000 | $7,767.02 | 3.63% |
| 2001 | $8,112.98 | 4.45% |
| 2002 | $8,431.98 | 3.93% |
| 2003 | $8,678.86 | 2.93% |
| 2004 | $8,911.45 | 2.68% |
| 2005 | $9,178.14 | 2.99% |
| 2006 | $9,505.59 | 3.57% |
| 2007 | $9,910.43 | 4.26% |
| 2008 | $10,273.28 | 3.66% |
| 2009 | $10,507.25 | 2.28% |
| 2010 | $10,531.48 | 0.23% |
| 2011 | $10,711.07 | 1.71% |
| 2012 | $10,995.22 | 2.65% |
| 2013 | $11,305.94 | 2.83% |
| 2014 | $11,662.24 | 3.15% |
| 2015 | $12,079.05 | 3.57% |
| 2016 | $12,534.64 | 3.77% |
| 2017 | $13,012.78 | 3.81% |
| 2018 | $13,483.48 | 3.62% |
| 2019 | $13,983.27 | 3.71% |
| 2020 | $14,420.09 | 3.12% |
| 2021 | $14,743.86 | 2.25% |
| 2022 | $15,633.40 | 6.03% |
| 2023 | $16,876.80 | 7.95% |
| 2024 | $17,677.00 | 4.74%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Rent of primary residence:
| Year | 1913 | 1914 | 1915 | 1916 | 1917 | 1918 | 1919 | 1920 | 1921 | 1922 | 1923 | 1924 | 1925 | 1926 | 1927 | 1928 | 1929 | 1930 | 1931 | 1932 | 1933 | 1934 | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 21.000 | 21.000 | 21.150 | 21.350 | 21.100 | 21.750 | 23.700 | 28.067 | 31.800 | 32.400 | 33.340 | 34.440 | 34.567 | 34.133 | 33.567 | 32.767 | 32.000 | 31.067 | 29.300 | 25.967 | 22.467 | 21.333 | 21.400 | 21.900 | 22.980 | 23.680 | 23.700 | 23.757 | 24.154 | 24.692 | 24.692 | 24.745 | 24.820 | 24.980 | 25.792 | 27.500 | 28.692 | 29.754 | 30.923 | 32.215 | 33.908 | 35.115 | 35.608 | 36.262 | 36.962 | 37.638 | 38.177 | 38.738 | 39.231 | 39.715 | 40.115 | 40.531 | 40.931 | 41.492 | 42.238 | 43.254 | 44.654 | 46.500 | 48.654 | 50.331 | 52.523 | 55.154 | 58.000 | 61.138 | 64.815 | 69.277 | 74.338 | 80.915 | 87.938 | 94.623 | 100.092 | 105.292 | 111.762 | 118.277 | 123.146 | 127.838 | 132.808 | 138.408 | 143.315 | 146.908 | 150.338 | 154.008 | 157.777 | 161.954 | 166.669 | 172.077 | 177.485 | 183.923 | 192.115 | 199.669 | 205.515 | 211.023 | 217.338 | 225.092 | 234.679 | 243.271 | 248.812 | 249.385 | 253.638 | 260.367 | 267.725 | 276.162 | 286.032 | 296.820 | 308.143 | 319.289 | 331.124 | 341.468 | 349.135 | 370.199 | 399.643 | 418.591 |